WATKINS: what changed
Two fiscal years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
WATKINS
Largest movements
- Tangible fixed assets +€61,901
up €61,901 (+413.8%), from €14,959 to €76,860
of which Furniture and vehicles: +€65,945
- Cash -€51,076
down €51,076 (-96.4%), from €53,002 to €1,926
mainly Investment in fixed assets (net) (-€69,679) and Contributions, distributions and other (-€18,226)
- Receivables within one year +€3,812
up €3,812 (+33.6%), from €11,330 to €15,142
of which Other amounts receivable: +€1,935
- Deferred charges and accrued income +€1,650
up €1,650 (+182.1%), from €906 to €2,556
- Other debts +€12,909
up €12,909 (+23.8%), from €54,304 to €67,213
- Accrued charges and deferred income +€4,657
new in 2025: €4,657
- Tax, wage and social debts -€970
down €970 (-15.6%), from €6,229 to €5,259
- Other operating charges +€6,357
up €6,357 (+1135.2%), from €560 to €6,917
- Gross operating margin +€6,047
up €6,047 (+17.4%), from €34,761 to €40,808
- Depreciation +€1,593
up €1,593 (+25.8%), from €6,185 to €7,778
- Taxes +€1,398
up €1,398 (+29.8%), from €4,695 to €6,093
- Financial charges -€453
down €453 (-23.2%), from €1,951 to €1,498
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €80,397 | €96,684 | +€16,287 | +20.3% |
| Fixed assets | 21/28 | €15,159 | €77,060 | +€61,901 | +408.3% |
| Tangible fixed assets | 22/27 | €14,959 | €76,860 | +€61,901 | +413.8% |
| Plant, machinery and equipment | 23 | €14,959 | €10,915 | -€4,044 | -27.0% |
| Furniture and vehicles | 24 | - | €65,945 | +€65,945 | |
| Financial fixed assets | 28 | €200 | €200 | = | 0.0% |
| Current assets | 29/58 | €65,238 | €19,624 | -€45,614 | -69.9% |
| Amounts receivable within one year | 40/41 | €11,330 | €15,142 | +€3,812 | +33.6% |
| Trade receivables | 40 | €11,325 | €13,202 | +€1,877 | +16.6% |
| Other amounts receivable | 41 | €5 | €1,940 | +€1,935 | +38700.0% |
| Cash at bank and in hand | 54/58 | €53,002 | €1,926 | -€51,076 | -96.4% |
| Deferred charges and accrued income | 490/1 | €906 | €2,556 | +€1,650 | +182.1% |
| Total equity and liabilities | 10/49 | €80,397 | €96,684 | +€16,287 | +20.3% |
| Equity | 10/15 | €18,600 | €18,600 | = | 0.0% |
| Contributions | 10/11 | €18,600 | €18,600 | = | 0.0% |
| Amounts payable | 17/49 | €61,797 | €78,084 | +€16,287 | +26.4% |
| Amounts payable within one year | 42/48 | €61,797 | €73,427 | +€11,630 | +18.8% |
| Trade debts | 44 | €1,264 | €955 | -€309 | -24.4% |
| Suppliers | 440/4 | €1,264 | €955 | -€309 | -24.4% |
| Taxes, remuneration and social security | 45 | €6,229 | €5,259 | -€970 | -15.6% |
| Taxes | 450/3 | €6,229 | €5,259 | -€970 | -15.6% |
| Other amounts payable | 47/48 | €54,304 | €67,213 | +€12,909 | +23.8% |
| Accrued charges and deferred income | 492/3 | - | €4,657 | +€4,657 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €6,185 | €7,778 | +€1,593 | +25.8% |
| Other operating charges | 640/8 | €560 | €6,917 | +€6,357 | +1135.2% |
| Non-recurring operating charges | 66A | €1,710 | €430 | -€1,280 | -74.9% |
| Gross operating margin | 9900 | €34,761 | €40,808 | +€6,047 | +17.4% |
| Operating profit (loss) | 9901 | €26,306 | €25,683 | -€623 | -2.4% |
| Financial income | 75/76B | €74 | €134 | +€60 | +81.1% |
| Recurring financial income | 75 | €74 | €134 | +€60 | +81.1% |
| Financial charges | 65/66B | €1,951 | €1,498 | -€453 | -23.2% |
| Recurring financial charges | 65 | €1,951 | €1,498 | -€453 | -23.2% |
| Profit (loss) for the period before taxes | 9903 | €24,429 | €24,319 | -€110 | -0.5% |
| Income taxes | 67/77 | €4,695 | €6,093 | +€1,398 | +29.8% |
| Profit (loss) for the period | 9904 | €19,734 | €18,226 | -€1,508 | -7.6% |
| Profit (loss) for the period to be appropriated | 9905 | €19,734 | €18,226 | -€1,508 | -7.6% |
Source: filed annual accounts (NBB), fiscal years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 7 October 2026 via checked.be.